Plan for emergencies from "summary" of Know Your Money by
It is essential to have a plan in place for unexpected emergencies that may arise at any moment. These emergencies could range from a sudden illness or injury to a natural disaster or unexpected financial crisis. By preparing for such situations in advance, you can minimize the impact they have on your financial stability and overall well-being. One way to plan for emergencies is to set aside an emergency fund. This fund should ideally cover three to six months' worth of living expenses. By having this financial cushion, you can avoid going into debt or having to dip into your savings in the event of an emergency. It is important to regularly contribute to this fund and ensure that it is easily accessible when needed. Another aspect of plann...
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